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External Debt Sustainability in HIPC Completion Point Countries

Author/Editor: Sun, Yan
Authorized for Distribution: September 1, 2004
Electronic Access: Free Full Text (PDF file size is 692KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper examines a number of structural factors affecting the external debt sustainability of HIPC completion point countries. It shows that (i) while comparing favorably with other lowincome countries, the policy and institutional frameworks of completion point countries in general are still relatively weak, and their debt management practices remain inferior to international standards; and (ii) their export base remains narrow and fiscal revenue mobilization lags behind, even compared with many other low-income countries. Achieving and maintaining long-term debt sustainability in completion point countries will require continued structural reforms, timely donor support, and close monitoring of new borrowing in support of sound macroeconomic policies.
 
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Series: Working Paper No. 04/160
Subject(s): External debt | Heavily indebted poor countries | Debt relief | Economic reforms
Author's keyword(s): External Debt Sustainability | HIPCs
 
English  
    Published:   September 1, 2004        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA1602004   Pages:   33
    Price:   US$15.00 (Academic Rate: US$15.00 )
       
     
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